The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sesha Sai Nikhil Chintalapati
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Non-promoter individual Sesha Sai Nikhil Chintalapati was allotted 4,92,000 equity shares of Novelix Pharmaceuticals Ltd on 24 December 2025 through a preferential allotment. His individual holding rose from 5,00,000 shares (3.10%) to 9,92,000 shares (5.78%) of the company's paid-up capital, crossing the 5% disclosure threshold under SAST regulations. Together with Persons Acting in Concert (PAC) DM Fincon Services LLP (which holds 2,50,000 shares), the combined group now holds 12,42,000 shares or 7.23% of the company's share capital. The filing indicates an equity dilution — paid-up capital increased from Rs. 14.14 crore (1.61 crore shares) to Rs. 17.22 crore (1.72 crore shares), with additional 77,35,000 outstanding convertible warrants still pending conversion.
A non-promoter entity is steadily building a stake in the company through preferential allotments and is now approaching the 10% open offer trigger threshold. Retail shareholders should monitor further disclosures, as any additional acquisition pushing the combined holding past 10% would mandate a full open offer to all shareholders.